NCL Industries Ltd. Company History and Annual Growth Details

YEAR EVENTS1979 - The Company was incorporated on 10th September, at Hyderabad. It was promoted by K. Ramachandra Raju and his associates and APIDC. The Main object of the Company is to manufacture cement and ceramics.

- The Company obtained mining lease over 208.9 hectares of land at Mattapalli village in Nalgonda district of Andhra Pradesh.

1982 - 450 shares subscribed for by the signatories to the Memorandum of Association, 4,62,050 shares taken up by K. Ramachandra Raju and his associates and 2,77,500 shares allotted to APIDC. 11,10,000 shares offered at par for public subscription during November/December.

1986 - The Company applied to the Government of India for a letter of intent for the setting up of a project for the manufacture of `Cement Boards' a termite proof, water proof and fire proof board and a substitute for wood.

- It has technical collaboration with Bison Werke Bahre & Graten GmbH & Co. K.G. West Germany and Import Licence for capital goods was also received.

1987 - The Company received a letter of intent for expansion of cement capacity to 600 TPA from 200 TPA. Also, approvals were received for collaboration and input of critical equipment from Onoda Engineering Company, Japan.

- The name of the company was changed to NCL Industries Ltd. from Nagarjuna Cement Ltd.

- 1,50,000 shares allotted to promoters, at par in conversion of loans.

1988 - Cement mill, coal mill and kiln feed sections were installed.

- It was proposed to accommodate closed circuit grinding system and Osepa classifiers in raw mill and cement mill sections for the existing as well as expanded capacity.

- It was proposed to provide extra reinforcement to the pre-heater structures.

- 1/3 of the technical know-how fees was paid to the Collaborators. Land for the factory as well as for partial captive plantation activity was acquired and developed.

1989 - During the year the production declined due to plant shut down between 16th May to 30th September for implementing the modernisation-cum-expansion project. A diesel generator set was installed to meet the expanded production requirements.

- BIFR, gave its approval for merger of Klayman Porcelains, Ltd. with the Company as per the rehabilitation scheme formulated by IFCI for KPL.

- As per the scheme, 18,720 No. of equity shares of Rs 10 each were to be allotted to shareholders of KPL in the propn. 2 equity shares of Rs 10 each of NCL : 5 equity shares of Rs 100 each of KPL.

- The scheme ensures independent long term viability of KPL based on setting up of Bone-china project in addition to the existing storeware project.

- The package provides interalia sanction of additional term loans of Rs 135 lakhs for setting up of Bone-china project based on natural gas in the Krishna Godavari basin.

- The Company executed a new project for manufacture of Bison Board and also took over and revived a sick unit engaged in the manufacture of tableware ceramic products.

- During January-February, the Company offered 40,00,000 rights equity shares of Rs 10 each at par for cash in propn. 2:1 (only 31,82,300 shares taken up). The unsubscribed portion 8,17,700 shares were issued to the public.

- Simultaneously another 2,00,000 No. of equity shares were issued at par to the employees under the Employees Stock Option Scheme (none were taken up and all were allowed to lapse).

- To the Rights issue, the Company issued through the prospectus 40,00,000 No. of equity shares of Rs 10 each, of which the following shares were reserved for allotment on a preferential basis:

- (i) 2,00,000 shares to employees (including Indian working directors)/workers of the Company (none were taken up),

- (ii) 4,00,000 shares to shareholders of NCL Seccolor Ltd. (all were taken up) and

- The remaining 19,00,000 No. of equity shares along with unsubscribed portion of 11,17,700 shares from Rights issue and preferential quota were issued to the public (all were taken up). Additional 12,00,000 No. of equity shares were allotted to retain oversubscription (60,000 shares to shareholders of NCL Seccolor Ltd. and 11,40,000 shares to the public).

1991 - Due to some technical snags, the boards plant took additional time in stabilising operations.

1993 - The cement boards plant was commissioned with the replacement of the imported card plates. The hotelware range was introduced on regular scale.

1996 - As a part of the restructuring exercise, the company entered into an MOU for having off the ceramic division.

1997 - The Company promoted NCL Energy Ltd., to take up Mini Hydel Power Projects. Initially this company was awarded a project at Pothireddypadu in Kurnool District, Andhra Pradesh with an initial potential of 3MW.

2003 - CL Industries Ltd has informed BSE that the Board of Directors of the company in its meeting held on January 11, 2003 has appointed Shri K Ravi as Director and Managing Director of the company wef. January 11, 2003 for a period of 5 years subject to approval of the shareholders in place of Shri K Ramchandra Raju, whose term of appointment is expiring by January 28, 2003. Shri K Ramchandra Raju has resigned as Managing Director as well as Director of the company w.e.f. January 11, 2003.

2006-NCL Industries Ltd Issues Rights in the Ratio of 4:5

2008

Ncl Industries Limited has appointed Mr. Bidhan Chandra Debata (FCS) has been appointed as the Sr. General Manager & Company Secretary of our company with effect from 1st of January 2008. Mr. T. Arun Kumar however continues as the Company Secretary and Compliance Officer.

-NCL Industries Ltd has appointed Mr. P Simhadri Reddy as an additional director of the Company.